Carl Hampel, director at Pacific Property Technologies said 100 per cent of shareholders supported the sale of the firm to RP Data after examining the opportunity at a general meeting of the privately held company. Directors own about 60 per cent of the company.Hampel said PPT had canvassed the market for suitable companies, adding that foremost in their minds was finding the right strategic fit for the long term."We became convinced that RP Data was able to supply the necessary leapfrog technologies for the local market, and had the necessary long range strategic focus and commitment required."We found that fit in RP Data, with their major parent shareholder of First American and sent a management team to the US to consider all aspects of new products, the degree of IT sophistication available, the maturity level of new technology systems in other markets and most importantly the past track record of commitment that First American has displayed." Part of the deal structure driven by PPT was the requirement for the continuation of the creative product control in its sector, as PPT wanted to ensure it gained all the opportunities presented by the scale of RP Data, without being consumed or subverted away from its developments.Hampel said PPT shareholders were happy with the offer which is majority cash with a smaller portion of RP Data equity adding, "When equity is issued it is always preferable to have these regular market corrections occur before, rather than after, the issue."This refers to the May high share price of $2.48 for RP Data, which by mid August had fallen to around $1.60. RP Data and PPT have not made clear what portion of the takeover they will pay in shares and what portion in cash.No staff will be cut due to the takeover, with Hampel seeing the opposite effect of requiring more skilled IT labour, business development and product personnel."RP Data held back its recruitment program temporarily in light of the imminent PPT acquisition, creating pent up demand."